Crypto price predictions: OCEAN, PHA, XRP
Cryptocurrency prices had a strong week as hopes of a Federal Reserve pivot increased. Bitcoin managed to move above the key resistance level at $20,000 while Ethereum crossed the important level at $1,500. In total, the market cap of all cryptocurrencies jumped to over $1 trillion. In this crypto price predictions, we will look at the best coins to trade this weekend.
Ocean Protocol (OCEAN)
Ocean Protocol is a small but fast-growing blockchain project that provides on-ramp services for data services in the cryptocurrency industry. It is simply an open-source community marketplace for data. It owns veOCEAN, which is a means to lock OCEAN to enable users to vote in OceanDAO’s ecosystem and earn rewards.
Through Ocean Protocol, companies can publish and monetize their data, and then customers can buy it in its market. Some of the most popular data in its marketplace are the Ocean CEX Aggregator for Ethereum, Ocean ONDA DataFi Directory V4, and Transport Genie.
The daily chart shows that the OCEAN price found a bottom at $0.1462. It has now been moving slightly upwards and managed to rise above the 25-day and 50-day moving averages. The Relative Strength Index (RSI) has managed to keep rising. Therefore, there is a likelihood that the $OCEAN price will continue rising during the weekend.
Phala Network (PHA)
PHA is another crypto to trade this weekend. For starters, Phala Network is a parachain in Polkadot’s ecosystem that provides a permissionless computing protocol. It owns Phat Contract, a smart contract language with low latency, cross-chain computing, and internet services access.
PHA price went parabolic this month after the developers invested in Cryptosat. The developers will also be hosting an event with Litentry and Compossable Finance.
Phala will be hosting Polkadot Unbounded on Oct 29th in Lisbon with @litentry and @ComposableFin
Come by to hear our speakers and discuss the latest updates in the Polkadot ecosystem🍻https://t.co/sCZ3CKQgbg
— ₱hala Network (Hiring!) (@PhalaNetwork) October 27, 2022
On the daily chart below, we see that the Phala Network price went vertical this month. Most recently, the price has pulled back and formed what looks like a bullish flag pattern. Therefore, there is a likelihood that the coin’s price will bounce back soon.
Ripple (XRP)
Ripple price has remained in a consolidation phase this week even as other cryptocurrency prices rebounded. XRP was trading at $0.4600, where it has been in the past few days. This price is about 8% above the lowest level this month.
There has been no major activity on the ongoing SEC vs Ripple case in the US. This week, the SEC said that it was not taking a position on two motions filed in the case. Such a move could help Ripple Labs as it seeks to win the case.
XRP is a good coin to trade because its symmetrical triangle pattern is nearing its consolidation point. As such, there is a high possibility that it will stage a breakout in the near term.
How to buy Ripple
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Disclaimer
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.
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